Joe Biden is the 46th President of the United States. He is known for having been in politics for a long time. Biden has always been in the news, whether he was a senator or the vice president of the United States.
Since he won the 2020 presidential election, there has been more interest in how much money he has. In this article, we’ll look more closely at Joe Biden’s net worth, how he got rich, and the things that affect his financial situation.
Early Years and Career
Joe Biden was born in Pennsylvania in 1942. He was born in Scranton. His family was from the middle class, and his father sold used cars.
Biden went to college at the University of Delaware and law school at Syracuse. Before he got into politics, he worked as a lawyer. Biden was first elected to the U.S. Senate in 1972. He served there for 36 years until he was elected vice president in 2008.
What is Joe Biden’s Net Worth and Salary?
Joe Biden is a politician in the United States, and his net worth is $9 million. From 1973 to 2009, Joe Biden was a Senator from Delaware. Then, from 2009 to 2017, he was the 47th Vice President of the United States, working for President Barack Obama.
In 2020, he was chosen by the Democrats to run against Donald Trump for president of the United States. In November 2020, he beat Donald Trump by a huge margin to become the 46th President of the United States. He won both the electoral vote and the popular vote. According to Celebrity Networth.
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Presidential Salary
Title 3 of the US Code says that Joe Biden’s base salary as President of the United States is $400,000. He also gets a $50,000 expense account, a $100,000 travel account that is not taxed, and a $19,000 entertainment stipend every year. Before the Bidens moved into the White House, they were given $100,000 to help them fix up the place.
Rental Income
Federal financial reports also show that while Biden was vice president, Joe and Jill made $2,200 per month by renting their guest house to Secret Service agents. During this time, they made about $170,000 from renting out their homes.
Real Estate
Joe Biden’s main home is a house in the Greenville neighborhood of Wilmington, Delaware. The home looks out over a man-made lake that was built by wealthy du Pont family members. Joe and Jill paid $350,000 for their home in 1997.
Homes in the area that are similar to this one have recently sold for just over $2 million. Joe and Jill bought a vacation home with six bedrooms in Rehoboth Beach, Delaware, for $2.74 million in 2017. Between 2018 and 2019, the couple paid $20,000 a month to rent a $4 million mansion in McLean, Virginia.
Property and Money Invested
Joe Biden’s net worth comes from the things he owns and the investments he has. His financial disclosure forms say that his home in Wilmington, Delaware, which is worth about $1 million, is his most valuable asset. Biden also owns a second home in Rehoboth Beach, Delaware, which is estimated to be worth $2.7 million.
Biden has several investment accounts, including a Vanguard 500 Index Fund that is worth between $1 million and $5 million. He also has several retirement accounts, including a Federal Thrift Savings Plan that is worth between $1 million and $5 million.
Biden has also made money from deals to write books and give speeches. During his career, he has written several books, including “Promise Me, Dad: A Year of Hope, Hardship, and Purpose,” which came out in 2017. Biden has also given speeches for which he was paid a lot of money. In 2014, he was paid $200,000 to speak at the University of Buffalo.
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Charitable Contributions
Joe Biden has helped people in need for a long time. His tax returns show that between 1998 and 2017, Biden and his wife Jill gave $1.5 million to charity. Biden has also worked with a number of charitable groups. He started the Biden Cancer Initiative after his son Beau died of brain cancer in 2015.
How the Presidency Affects a Person’s Wealth?
His presidency is likely to affect how much money Joe Biden has. While in office, presidents don’t get a big raise in pay, but they do get extra perks like free housing in the White House, free travel on Air Force One, and an expense account for work-related costs.
Also, after leaving office, former presidents usually make a lot of money from speaking engagements and book deals. Biden is likely to keep making money from these sources after he leaves office.
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